By Allison Prang 
 

NetApp Inc. (NTAP) said it expects net revenue to fall about 8% this fiscal year.

The company had been expecting net revenue to fall between 5% and 10%.

NetApp expects consolidated gross margins to be between 67% and 68% on an adjusted basis and for its GAAP consolidated gross margins to be between 66% and 67%. It was guiding for its adjusted consolidated gross margins to be between 66% and 67% and for its GAAP consolidated gross margins to be between 65% and 66%.

NetApp expects its adjusted operating margins to be between 21% and 22%. It was expecting adjusted operating margins between 19% and 22%. It expects its GAAP operating margins to be between 18% and 19%. It was expecting between 16% and 19%.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

November 13, 2019 16:43 ET (21:43 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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